Rebirth of the Official Business Route

The weather in Xinwu is cool in summer. Swimming in the open-air swimming pool in the city is still a bit cool. The hot spring lake on Yunshan Mountain is not suitable for swimming in winter, except that spring, summer and autumn are almost constant at the most suitable water temperature.

Zhang Ke and Sun Jingmeng came to Zhishang to buy swimsuits and took a boat to Huxin Island to change clothes in the same room with Sun Jingzhulai, but they were kicked and beaten out.

Zhang Ke first changed into his swimming trunks and sat on the water platform waiting for Sun Jingyuan to come out. His feet were dangling in the warm lake water. In the distance, there were many people swimming near the shore of Wengui Lake. The water surface was vast, and a few people were trying to cross the entire lake. . Sun Jingyi came out wrapped in a big soap. Her figure is not very tall, at least among the group of dancing girls, she is considered petite. The legs exposed under the soap are long and round. When the legs are combined, there is no gap. fat. Zhang Ke squinted at him and felt that Xiao Nizi's legs were charming except for her delicate and enchanting face. Novel chapters are updated the fastest

Can't you blind your eyes? Sun Jinglou glared at Zhang Ke with a slight annoyance, and was about to sit down next to his body, but pushed Zhang Ke into the water violently.

Zhang Ke was so cold that he was caught in the water and took a sip of water, and his head came out of the water, watching Sun Jinghao standing on the water platform and smiling happily.

At four o'clock in the afternoon, the sun is not so hot. The lake water seems to be dyed with thick emerald. She asked her on her tender thighs: Why don't you go into the water? Fiction novel chapters are updated the fastest

It's good to watch you swim... Sun Jingyuan playfully put her legs on Zhang Ke's shoulders, clamped his neck and rubbed his heels on his waist

Zhang Ke put his cheek on her smooth thigh and raised his head to look up at her sky-blue swimsuit, which rounded her upturned breasts perfectly. It can be seen that she was not wearing anything anymore. He couldn't help but hugged her with amazingly elastic hands. waist hip.

What are you looking at? Sun Jinghou draped Zao tightly and clamped her legs tightly, trying to press Zhang Ke's shoulders down, and wanted him to be more honest and not stare at her breasts, but unexpectedly, this action directly pressed the tip of Zhang Ke's nose against her own softness. I felt very comfortable on my lower abdomen and didn't let go. I didn't expect to feel a soft thing between the legs through the swimming trunks. Pulling Zhang Ke, but holding her waist tightly and not letting go, Sun Jingyuan was reluctant to pull his ears hard, hugging his head, and plunged into the water violently, splashing a splash.

Zhang Ke was caught off guard by Sun Jingshuo's legs, and his whole body was trapped in the water, and he couldn't hold his breath for a long time, so he struggled to get out of the water. At this time, Sun Jingbang was already swimming away like a mermaid. Zhang Ke climbed to the water platform and sat resting, watching Jing Yuan swimming in the clear lake water. His hips are plump, elastic, slender, his waist is soft and slender, his legs are holding the water, his movements are beautiful, his posture is beautiful, and he swims far away before stopping in the water. Stepping on the water, he said to Zhang Xie, swim around the island, if you swim past me, you will promise you anything.”

Really? Zhang Ke stood up and asked.

It's just the two of us here, and I can lie to you if I want to? Sun Jingyuan shook his head in the water.

Lie to me and rape you. Zhang Ke doesn't care if it's true or not, he plunged into the water, Sun Jinghao smiled and said, You scoundrel, I haven't started yet. He laughed and cursed, his body was still swimming like a mermaid, and he was still a long way in front of Zhang Ke .

The island is not big. Sprinting around the island is exhausting enough. Zhang Ke is as tired as a dog and climbs up the water platform. Sun Jingyuan is already standing on the water platform, wiping his head with a towel and laughing at him, saying: Do you still have the strength to rape me?

With a sudden stride, Zhang Ke grabbed Jinglou's wrist, grabbed her petite and charming body, held her arms in his arms, made her unable to resist, kissed her soft lips, and then kissed her beautiful bottom and crystal clear jade neck The kiss made her breathless.

Sun Jinglou just grabbed her swimsuit to prevent Zhang Ke from taking it off in a beastly manner. There are other people swimming in the lake, even though they are far away, if the swimsuit is taken off, they will still be naked.

Shall we go in? Zhang Ke murmured softly in Jinglou's ear and kissed her crystal clear auricle along the way.

Well, Sun Jingzhu's whole body was so soft that she almost collapsed in Zhang Ke's arms and put her arms around his neck and said, but you are not allowed to rape me. The soft and sweet voice made Zhang Ke's bones hard for three points. Wearing a thin swimsuit sticking together, Jingzhu can naturally feel that she reached out and grabbed the frighteningly stiff thing and said, If you want to rape me, others will see it, and I will help you with my hands...

No, you have to use this, Zhang Ke Yaling bit Sun Jinghou's ruddy lips and said persistently.

Sun Jingzhu pinched the hard thing with her hands, but she didn't disagree with Zhang Ke and carried her into the wooden house...

It was lingering for a long time until the setting sun shone on the hot spring lake before Zhang Ke and Jingwei returned to the shore by boat. On the barge, Zhang Ke gently hugged Jingyuan's slender waist, watched the charming sunset light on the top of the mountain, and asked softly in her ear: When can I really do it again?

Just now you really raped me and I have no objection. Jinglou smiled slyly and said meaningfully, Then wait until later! It may be a long time later.

Zhang Ke grabbed his head and made a painful appearance of bumping his head against the bulwarks. Jing Yuan smiled and ran away to leave Zhang Ke alone.

At night, Zhang Ke asked Chen Feirong to accompany his parents to the mountain for dinner. At dinner, Sun Jinghou just talked about her conception of the talent show Star DreamWorks at the table in earnest. She has considered this aspect for a long time, and her thoughts are more comprehensive. It seems that she and Zhang Ke are on the mountain in the afternoon. Just discussing this issue and doing nothing else.

Overseas regions such as Taiwan and Singapore have a long history and tradition of selecting programs. After Sun Jingyuan came to Singapore, she was exposed to related program production. Compared with the rigid and lifeless artist training and growth route in China, she wanted to produce a program in the Mainland. A long-running TV festival that blends talent drama with reality TV*…”

Although there are singing competition programs such as CCTV's Youth Singer Grand Prix in the Mainland, the program units are too single, entertaining, situational, variety, and fashionable, and they are far from enough to attract contemporary young people. Contestants’ professional styling and production details such as pre-rehearsal and post-editing orchestra accompaniment were not satisfactory.” Sun Jingzhu described her understanding and expectations of the talent show and then turned to ask Zhang Ke, “What do you think?”

My opinion is that I don't agree with Sister Sun's opinion? Zhang Ke was noncommittal and let this girl not let himself succeed in the afternoon.

Of course my sister supports me. Sun Jingzhu said, It's just that if we really want to operate, we need to hire experienced producers from Taiwan or Singapore, because we are afraid of the program censorship system in the mainland.

As long as variety shows do not involve politics and other aspects, you can relax a bit before you don’t have to worry about this pressure.” Zhang Ke said that China is now trying to imitate foreign countries to make some entertaining variety shows, but the review system of domestic TV program production is too conservative. Some commercial variety shows tend to be too commercial and extremely vulgar. In terms of censorship and profitability, Zhang Ke believes that Century China Entertainment does not need to bear too much pressure, but he is worried about the censorship of modern society. The unprecedented expansion of the ugly consciousness will lead to the sudden emergence of some artists who are contrary to ordinary people's aesthetic concepts. He has no desire to support such artists to become popular. Century China Entertainment and mainland TV stations produce variety show talent shows mainly not to activate the mainland TV market. One is to expand the influence of Century China Entertainment through show shows, and the other is to tap talent with potential through talent shows.

Is it okay for the program production to directly invite Kumho's member companies to be brand sponsors? Sun Jingcuo asked.

You have to have the confidence to be successful. Sponsorship is not lacking. This year, Aida's domestic advertising budget is 1.5 billion. Pulling out the hair from the thigh is enough for you to carry it away. Zhang Ke said with a smile on his face, still There are three brands, Xiangxuehai, Shengxin, and Xinguang. It depends on which company you are confident in cooperating with. Kumho operates four brands with different advertising efforts and target targets. The sponsorship funds for variety shows are also different. If Xi wants to get the most sponsorship money, it is natural that Aida will be the brand sponsor. Of course, this also requires the variety show to meet the requirements of Aida.

It is one thing for all member companies under Kumho to integrate and utilize separate financial accounting resources, but it is also necessary to prevent excessive reliance on internal resources and thus weaken external competitiveness, especially as the group grows larger and larger, it will tend to become bureaucratic Zhang Ke Begin to attach importance to promoting internal competition.

Sun Jinglou sniffed her nose disdainfully and said, When I get out the planning...book, you will know who is begging whom!

Zhang Zhixing, Liang Gezhen, laughed and said nothing until Zhang Ke and Sun Jing finished their fight, Chen Feirong talked about Tang Jing, her mother Gu Jianping had a cold, and Tang Jian wanted to stay in Jinshan with her mother the day after tomorrow.

Tang Zhu couldn't come to Xinwu to come to Sun Jingyu, but he didn't give Zhang Ke the opportunity to meet alone. He went to Hong Kong to participate in the celebration of Xinguang's successful listing. I can't find a chance to be a thief.

Affected by the Internet bubble crisis, the Hong Kong stock exchange market also fell into a slump. Shin Kong Paper was not affected much when it was listed. one.

Through a series of asset and market integration operations such as the acquisition of Jinshan Paper Mill in 1998, Shin Kong's annual paper production is expected to exceed 3 million tons this year. Annual sales will reach 1.5 billion in 100 years. The total number of employees will exceed 180,000. Thousands of people deservedly become the leading enterprise in the domestic paper industry. The annual output, annual sales and annual net profit exceed the sum of the second and third places, but the strength of the global paper giants is still very weak compared to Xinguang Paper. One year output Sales are only one-third of that of Weyerhaeuser, the world's tenth-ranked paper group.

Through the listing of Xinguang Paper, the direct capital of 6.6 billion Hong Kong dollars, in addition to the 1.6 billion Hong Kong dollars...injected into Xinguang Forestry, and the remaining 5.6 billion Hong Kong dollars, and then borrowed 2 billion from the China Development Bank to borrow 2 billion in corporate bonds. A total of 9 billion yuan will be used to start the pulping project, which is also the largest investment in the mainland so far. After the completion of the pulping project, it will produce one million tons of high-quality wood pulp per year.

The construction period of the pulping project is three years. At that time, the first batch of green forests of Xinguang Forestry will also reach the mature stage that can be cut in rotation.

Xinguang Forestry’s afforestation area has reached 7 million mu. According to the rotation cycle, it can be used for 2 million tons of pulping projects per year. In addition to using a large amount of waste paper pulp, Xinguang Paper will also import 2 million tons this year. Wood pulp needs to fill the upstream and downstream vacancies. After the first pulping project is completed, it is necessary to start the second one-million-ton pulping project in Jinshan immediately, and the funds required are tens of billions.

Shin Kong Forestry's afforestation area has reached 7 million mu, and the comprehensive cost of forestry land rental, personnel salaries and other comprehensive costs is as high as one billion yuan per year. The investment of 1.6 billion Hong Kong dollars in Shin Kong Forestry this time is only enough for daily maintenance. Well, for further expansion, more capital needs to be invested; or the next step of expansion can only be carried out after the forest has entered a mature stage and is profitable.

Now that Shin Kong Forestry is listed in Hong Kong, it is necessary to raise funds through the open market as much as possible.

The successful listing of Xinguang Paper can be regarded as the proud work of Zeng Zihui, vice president of Goldman Sachs Asia. In the banquet hall on the top floor of the Peninsula Hotel, Zeng Zihui was wearing a neat shirt, holding a red wine glass, Zhou You, Chairman and President of Xinguang Paper, and Guo Songyan, Director of Xinguang Paper, President of Malaysia Yunyuan Group. The red Mili in the misty wine glass, the three of them saw Zhang Ke and Tang Jian coming in and hurriedly parted to welcome them.

I discussed with Mr. Zeng that Xinguang Paper needs 20 billion in capital to have a big development. Zhou You smiled and said to Zhang Ke, Mr. Zeng also designed a rough financing path to solve the problem of 20 billion in funds. Qian: This time, Xinguang Paper has been successfully listed. It can completely turn Xinguang Forestry into a wholly-owned subsidiary of the listed company through the acquisition of shares in Xinguang Forestry by issuing new shares to each holding company. Funds raised from new shares The holding company raises funds for investment in its field by initially holding shares of Shin Kong Paper in the stock market...

Mr. Zeng's ideas always make people feel suddenly enlightened. You should think carefully about Mr. Zeng's suggestion. Zhang Ke casually told Zhou You that he brought two glasses of red wine from the passing waiter and shared a glass with Tang Juan and him. Zeng Zihui and Guo Songyan made a toast.

Shin Kong Paper has already raised 6.6 billion Hong Kong dollars separately through the securities market and wants to further raise a huge sum of 20 billion. It is not a task that can be completed in one or two years. It can only be used as a capital strategic direction of Shin Kong Piao. Can't completely pin our hopes on this.

After the pulping project is completed, even if the integrated forestry and paper industry model is initially completed and the development is more complete and mature, the resistance to financing will be smaller. China is a country with large national savings. The national savings rate is astonishingly high. After three to five years of domestic capital abundance, companies like Xinguang Paper, which have stable profits and mature industrial models, do not have to worry too much about the source of funds. At this time, they cannot compete with state-owned enterprises in China. competition for financial resources.

Although Malaysia's economy has begun to recover in the past two years, its expansion and market potential are still not comparable to those of the mainland. Guo Songyan still wants to invest substantially more in the mainland.

The two core companies under Kumho, Aida Group and Kumho Commercial, have very little door open to them, but Shin Kong Paper, Shin Kong Forestry, Xiangxue Hai, Shengxin Electric, Shengxin Telecom, and other companies have been working hard to seek a public listing. Naturally, the cooperation and investment of Chinese businessmen in Southeast Asia will not be large.

Guo's cooperation with Kumho in the past few years has been very pleasant. In the past few years, he has injected funds into Shin Kong Paper, including fixed assets, with a total of 1.5 billion yuan.

The core business of Yunyuan Group is pulping. Of course, Guo Songyan knows in his heart how much value Xinguang Paper holds in the integration of forest wars in the mainland. At least it wins four to five more than other paper giants in the Chinese market. In the past two years, instead of reducing his holdings of Shin Kong stocks to make a profit, he has plans to continue to increase investment.

Isn't Shin Kong Paper short of funds? Yunyuan Group can always withdraw 100 to 200 million U.S. dollars every year.

These things Guo Songyan had communicated with Zhang Ke and Sun Shangyi in private, but he would not bring it up again in front of Zeng Zihui. He said with a smile to Zhang Ke: There are already three listed companies under Kumho Trading, when will there be a fourth and a fifth?

It depends on how Mr. Zeng arranges the work progress. Zhang Ke said with a smile.

Does Ke Shao feel that I am not doing my best? Zeng Zihui asked with a smile.

Both Xiangxuehai and Shengxin Electric have already met the conditions for a public listing. Zeng Zihui even knew that Kumho had contacted the domestic securities department some time ago and wanted to list Shengxin Electric in China. Unfortunately, the securities department only wanted Shengxin Electric. Some assets are spun off and listed on the small and medium-sized board. The market value is still limited to less than 5 billion and the financing amount is no more than 1.5 billion.

Zeng Zihui smiled slightly, and Kumho probably didn't want to go to war for this 1.5 billion yuan.

Zhang Ke raised his glass in a gesture: No matter how hard Mr. Zeng works, we feel that it is not enough. Who makes us like fish jumping on the shore? Fund disease is difficult to cure... He thought that overseas capital is sufficient However, listing overseas will cost Goldman Sachs and other investment institutions a knife The problem is the benefits obtained after black market trading. At first, Goldman Sachs and HSBC even lowered the price-earnings ratio to 2 times and refused to make concessions.

Now it is a win-win situation. Zeng Zihui is also full of joy when he sees Zhang Ke. Quantum Online’s stock price rose during the big rebound after mid-May, reaching a high of $40 per share. Venture funds such as Goldman Sachs \u0026 Walden have successfully reduced most of their holdings in Quantum Online and cashed out a huge profit. At this time, the Nasdaq index can no longer hurt their bones. On the other hand, due to Goldman Sachs' retreat, Xinguang Paper got a relatively good price when it went public, let alone 1.3 billion more funds.

Before getting in touch with Kumho, Zeng Zihui would not have believed that such a young consortium existed. He didn’t know much about Aida Group’s finances. Core needs to provide credible and verifiable financial reports to financing targets. Zeng Zihui knows Kumho's finances like the back of his hand.

After Shin Kong Paper went public, the market value was as high as 25.3 billion Hong Kong dollars based on the previous closing price. The market value of Kumho’s shares held by Shin Kong Paper was about 125 million Hong Kong dollars. In order to facilitate Kumho’s financing of nearly 10 billion market value The shares of Xinguang Ohye are all concentrated in the name of Kumho Commercial.

In addition to Shin Kong Paper, Kumho Corporation also directly holds a stake in Aida Electronics. Although Aida Electronics was severely affected by the dot-com bubble crisis, its stock price has fallen from its highest point, and its market value has exceeded HK$30 billion.

Century Kumho acquired the listed company Jiaxin Real Estate and put part of the commercial real estate into the listed company through a back door. Some of the shares were directly held by Kumho Commercial. Because Century Kumho only put a small part of its commercial assets into the listed company. The market value of some of the equity is lower than HK$100 million.

Even without considering other Kumho Corporation’s equity assets, the market value is over 25 billion Hong Kong dollars, although the debt amount exceeds 3 billion U.S. dollars, at least from the book’s perspective, Kumho Corporation’s finances have stabilized, HSBC, Goldman Sachs and other international investors. Institutions have also raised their financial assessments for Kumho Corporation. Even if Kumho Corporation can use the equity of Shin Kong Paper as collateral, HSBC will lend 8 billion Hong Kong dollars to almost reduce the debt level of Kumho Corporation. If it is raised to 4 billion U.S. dollars, of course, the financial cost of 200 to 300 million U.S. dollars will be paid every year for the 4 billion U.S. dollars in debt.

If we rank Yahong's large consortium companies at this time, Kumho should be eligible to appear on the list.